Mitsubishi UFJ Asset Management Co. Ltd. Has $92.80 Million Holdings in Republic Services, Inc. (NYSE:RSG)

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Republic Services, Inc. by 14.2%, acquiring 47,770 additional shares to reach a total of 383,209 shares valued at approximately $92.8 million.
• Analysts have raised their price targets for Republic Services, with Morgan Stanley setting a target of **$245** and BMO Capital Markets raising theirs to **$284**, indicating strong projected growth for the stock.
• Republic Services announced a quarterly dividend increase to **$0.625**, representing an annualized yield of **1.1%**, to be paid on **October 15th** to shareholders of record.

Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Republic Services, Inc. (NYSE:RSG - Free Report) by 14.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 383,209 shares of the business services provider's stock after acquiring an additional 47,770 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.12% of Republic Services worth $92,798,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Golden State Wealth Management LLC raised its position in Republic Services by 3,533.3% in the first quarter. Golden State Wealth Management LLC now owns 109 shares of the business services provider's stock worth $26,000 after acquiring an additional 106 shares in the last quarter. Key Financial Inc raised its holdings in Republic Services by 380.8% during the 1st quarter. Key Financial Inc now owns 125 shares of the business services provider's stock worth $30,000 after buying an additional 99 shares during the period. TCTC Holdings LLC raised its holdings in Republic Services by 113.8% during the 1st quarter. TCTC Holdings LLC now owns 124 shares of the business services provider's stock worth $30,000 after buying an additional 66 shares during the period. Park Square Financial Group LLC acquired a new stake in Republic Services during the 4th quarter worth about $44,000. Finally, Cheviot Value Management LLC acquired a new stake in Republic Services during the 1st quarter worth about $49,000. 57.73% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on RSG shares. UBS Group set a $260.00 price objective on Republic Services and gave the stock a "neutral" rating in a report on Wednesday, July 30th. Scotiabank boosted their price objective on Republic Services from $250.00 to $260.00 and gave the stock a "sector perform" rating in a report on Friday, July 18th. Melius Research raised Republic Services to a "hold" rating and set a $281.00 target price on the stock in a research note on Monday, June 9th. Morgan Stanley lifted their target price on Republic Services from $230.00 to $245.00 and gave the company an "equal weight" rating in a research note on Friday, April 25th. Finally, National Bank Financial raised Republic Services to a "hold" rating in a research note on Monday, May 26th. Nine analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $262.17.

Republic Services Stock Down 0.1%

Shares of NYSE RSG traded down $0.28 during trading hours on Friday, hitting $235.36. The stock had a trading volume of 717,966 shares, compared to its average volume of 1,484,183. The company has a market capitalization of $73.48 billion, a P/E ratio of 34.82, a P/E/G ratio of 3.67 and a beta of 0.60. The firm's 50-day moving average price is $243.75 and its two-hundred day moving average price is $239.30. Republic Services, Inc. has a 52 week low of $197.60 and a 52 week high of $258.75. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.66 and a current ratio of 0.66.

Republic Services (NYSE:RSG - Get Free Report) last announced its earnings results on Tuesday, July 29th. The business services provider reported $1.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.76 by $0.01. The firm had revenue of $4.24 billion during the quarter, compared to analysts' expectations of $4.26 billion. Republic Services had a return on equity of 18.27% and a net margin of 12.97%. The company's revenue was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.61 earnings per share. Analysts anticipate that Republic Services, Inc. will post 6.86 EPS for the current fiscal year.

Republic Services Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Thursday, October 2nd will be given a dividend of $0.625 per share. The ex-dividend date of this dividend is Thursday, October 2nd. This is an increase from Republic Services's previous quarterly dividend of $0.58. This represents a $2.50 dividend on an annualized basis and a yield of 1.1%. Republic Services's dividend payout ratio (DPR) is currently 34.32%.

About Republic Services

Republic Services, Inc, together with its subsidiaries, offers environmental services in the United States and Canada. It is involved in the collection and processing of recyclable, solid waste, and industrial waste materials; transportation and disposal of non-hazardous and hazardous waste streams; and other environmental solutions.